Hi woody
The zoomed out version looks ok..
The line with the ??? and the numbering is not that important as its not a trend line. Its just a possible channel line.So i wont pay much attention to that .
with regards to supports and horizontal..i dont know where to start as you have way to much on those charts and i cant see where they started from.
xWoody wrote:
Hey remo
Thanks for the feedback! I was using the extremes of wickes, but from a way back... maybe I haven't the right points for the trendlines? Here's a fully zoomed out image of the chart and I've numbered the two points I've used to draw the main trendlines... are these correct?
https://www.dropbox.com/s/l2f632owbxtsu2d/Screenshot%202014-04-18%2013.59.14.png
Here is a slightly more zoomed in version showing the other trendline (the one that get's pierced)...
https://www.dropbox.com/s/zmm4h93m32tabgk/Screenshot%202014-04-18%2014.04.01.png
If a trendline is broken like that, do you stop using it? or re-draw it using the new point? This is the bit where I got confused!
Also, have I put my horizontal support/resistances in the right places? Are there any I shouldn't be using or any I have missed?
Thank you again for your help! I'm sure it must be a pain to have to cover the same old basics again and again!!
Cheers
Woody